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TORONTO, May 22 (Reuters) – The Ontario Securities
Commission, Canada’s most powerful securities regulator, laid
fraud charges on Tuesday against Chinese forestry company
Sino-Forest Corp and some of its former executives.
The charges come nearly a year after a short-seller’s
allegations that the then-Toronto-listed company had exaggerated
the size of its forestry holdings in China.
The OSC alleged Sino-Forest and members of its overseas
management engaged in numerous “deceitful and dishonest courses
of conduct” connected with the purported purchase and sale of
timber in China. It also alleges certain former company
executives attempted to mislead the OSC’s investigation.
